In the table below, individual demand schedules for tex, dex and rex

In the table below, individual demand schedules for Tex, Dex and Rex are shown in addition to [total] market demand.

a. Fill in the missing values in this table.

Price
Tex
Qd
Dex
Qd
Rex
Qd
Total Quantity
Demanded
$8
4
2
1

7
4
3

9
6

5
4
14
5
5

7
23
4
6
8
8


b. (i) Which buyer demands the most at a price of $7?

(ii) Which buyer’s quantity demanded increases the least when the price is lowered from $7 to $6?

c. Which direction would the market demand curve shift if Tex withdrew from the market?

d. What if Dex doubled his purchases at each possible price?

e. Suppose that at a price of $6, the total quantity demanded increases from 14 to 22. Is this a ‘change in the quantity demanded’ or a ‘change in demand’?

Calculate your order
Pages (275 words)
Standard price: $0.00
Client Reviews
4.9
Sitejabber
4.6
Trustpilot
4.8
Our Guarantees
100% Confidentiality
Information about customers is confidential and never disclosed to third parties.
100% Originality
The main foundation of any academic writing company is offering 100% originality in their orders. Make your order today and benefit from anti-plagiarized papers.
Customer Support 24/7
You can rest assured that our customer support team is consistently available to solve any difficulties and take your orders 24/7.
Money Back
If you're confident that a writer didn't follow your order details, ask for a refund.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00
Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.
Power up Your Study Success with Experts We’ve Got Your Back.